Deutsche Bank makes presence felt

Deutsche Bank has signed two deals that expand its presence in the emerging derivatives markets for steel and iron ore.

The bank has formed a strategic alliance with Stemcor, the world's largest independent steel trader, to offer steel derivatives hedging services to their combined client base through Deutsche Bank's sales and trading teams.

The alliance will be managed by Ray Key, global head of metals trading at Deutsche Bank, and Jean-Luc Fiorenzoni, Stemcor's director of risk management.